LTC/USD closed at 260.801 after placing a high of 261.285 and a low of 257.973. It continued its bearish trend for the fourth consecutive session on Tuesday despite improvement in the crypto environment. Litecoin remained almost unchanged during Tuesday’s trading session despite good news circulating in the market related to Venmo integrating buying and selling of cryptocurrencies. The digital wallet owned by PayPal Holding Inc. announced on Tuesday that about 60 million active customers of Venmo will now have access to buy and sell cryptocurrencies, including BITCOIN, ETHEREUM, Litecoin, and Bitcoin Cash.
Litecoin prices should have followed the market trend and gain from this positive news, but LTC/USD continued its bearish streak for the fourth consecutive session and remained under consolidation. The prices even remained flat throughout the day as it seemed like investors were almost inactive during the day. Furthermore, Hello Pal, which offers an international live-streaming, language learning, and social-crypto platform, announced that it had reached an agreement with a company to acquire an interest in Dogecoin and Litecoin mining assets.
Under this agreement, the company will acquire 51% stake in 12,500 mining platforms dedicated to the mining of Dogecoin and Litecoin. The deal also comes with an option to increase this interest to 100% for a period of two years after the completion of the transaction. Despite all these positive sentiments, Litecoin continued falling and remained flat throughout Tuesday.
Daily Technical Levels
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